June 7, 2018 - Contax Partners’ Energy Feed

QP to acquire 30% stake in ExxonMobil affiliates

Qatar Petroleum signed an agreement with Exxon Mobil to acquire a 30% stake in two of Exxon’s affiliates in Argentina - ExxonMobil Exploration Argentina S.R.L. and Mobil Argentina S.A., which holds rights with other partners for 7 blocks. With this 30% stake, QP will have access to oil and gas shale assets in the country. QP’s Chief Executive, Saad Al-Kaabi, stated that this is an important milestone, as it marks Qatar Petroleum’s first investment in Argentina as well as its first significant international investment in unconventional oil and gas resources.

Oman oil to sell 10% of its stake in Khazzan field

Oman Oil Company is planning to sell 10% of its stake in a key natural gas field in the sultanate amid a review of the energy producer’s options for restructuring its business according to market experts. The natural gas field - Khazzan - is 60% owned by BP Plc with the remaining held by Oman Oil Company. The 10% that Oman Oil is planning to sell could be worth about USD 1bn or more and is drawing interest from Chinese, Middle Eastern and Indian companies. No final decisions have been made, however, and the oil giant may still decide to retain the stake. Oman Oil Company is working with investment bank Lazard Ltd. on ways to revitalize its operations. Market experts had revealed that the company is weighing measures ranging from a potential initial public offering for its exploration business to fully integrating its refining unit into the parent company, as well as asset disposals.

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